Bearish run continues at CSE
By Mario Andree
The bearish run extended for the second consecutive session on Friday (17) at the Colombo Stock Exchange as the benchmark index slipped on a higher turnover with foreign exits from the Colombo Bourse. The benchmark All Share Price Index, which started the day at 8,848.04 points, crashed to 8,811.75 points during the opening hours before picking up to 8,863.93 points. The index then crashed to 8,753.42 points before accelerating to 8,827.64 points. The index settled at 8,801.95 points, losing 46.09 points (0.52 per cent) compared to the previous day’s close.
Browns Investments, Hayleys, LOLC Holdings, Nestle Lanka and Melstacorp dragged the index down, while Cargills, Commercial Leasing and Finance, Expo Lanka Holdings, Sampath Bank and Asiri Holdings tried to pull it up. The more liquid S&P SL20, representing the top 20 shares, which started at 3,309.99 points, crashed to 3,294.91 points during the opening hours before picking up to 3,319.75 points. The index then crashed to 3,272.02 points before accelerating to 3,306.53 points.
The index settled at 3,291.87 points, losing 18.12 points (0.67 per cent) compared to the previous day’s close. The daily turnover at the Colombo Stock Exchange stood at Rs 3.8 billion, lower than the Rs 3.9 billion recorded during the previous market day. More than 153.15 million shares changed hands during 24,577 trades. Shares of 247 companies were traded, of which 124 emerged as losers as against 61 winners. Foreigners were net sellers during the day. Net foreign outflow during the day amounted to Rs 505 million, as foreigners sold shares worth Rs 596 billion as against purchases worth Rs 91 million.
The top the losers during the day were: SMB Leasing, Citrus Leisure, Blue Diamonds, Renuka Hotels, Amana Life, Nation Lanka Finance, Pegasus Hotels, Tea Smallholders, Ceylon Guardian and Renuka Holdings (non-voting).
The top ten winners were: Nation Trust Bank (non-voting), Anilana Hotels, Mullers and Phipps, Hotels Corporation, Autodrome, Sinhaputhra Finance (P), Royal Palms Beach Hotels, Lee Hedges, Serendib Engineering Corporation and Radiant Gems.